December 27, 2024
DOGE Can Drive Reforms in America’s Broken Safety Net Programs
America’s broken safety net system has over 80 programs, costs $1.6 trillion annually, and perpetually underperforms. It’s inefficient, costly, and perversely functions like a snare net that traps people in poverty. But reform could be on the horizon, led by the new Department of Government Efficiency (DOGE). DOGE can address these staggering failures by identifying…
December 20, 2024
Fixing Inflation, Right-Sizing the Federal Government
Thirty years ago next month, Federal Reserve Board Chairman Alan Greenspan testified before a joint session of the House and Senate Budget Committees with talk of deficit reduction in the air. In January 1995, Republicans had just won control of both houses for the first time in 42 years. The federal debt had reached 48…
December 17, 2024
Make America Smart Again: The Jeopardy Test for Graduation
President-elect Donald Trump has signaled his intention to try to abolish the Education Department, long considered wasteful in a nation where public education is provided locally. If he were to succeed — a long shot, to be sure — state and local education overseers would have to step up to ensure quality education. On this front, the news is not promising….
December 17, 2024
Industrial Policy and Deficits: Dark Clouds for Democratic Capitalism
Democratic capitalism is a system that marries liberal democracy and free-market capitalism. This union creates tensions, and requires balancing competing aims. But this tension is healthy, not destructive — provided that democracy and capitalism are properly balanced, each sphere reinforces the other. Over the long term, capitalism requires liberal politics; and democracy will not maintain…
December 11, 2024
Some College Graduates Are Taking Lower-Paying Jobs
The promise of higher education is to equip students with new ideas and skills that will help them land higher-paying jobs. For many students, this dream comes true—but that is not what happens across the board. As college degree attainment has risen over time, many graduates find themselves taking jobs that traditionally belonged to those…
December 5, 2024
Inflation Reduction Act Offers a General Lesson against Industrial Policy
With President Trump’s stunning return to power, Congress has the opportunity in 2025 to enact additional business tax cuts. One of their specific goals should be to make “full expensing” of business investment a permanent part of the tax code. By allowing businesses to deduct the full cost of investment in the year the spending…
November 27, 2024
Finally, a Win for Working Men
Since the 1970s, working men, particularly those without college degrees, have experienced lower employment rates, increased social isolation and growing health risks. Today, we are starting to see early signs that this problem may be abating. But lately, men have started going back to work. During most recessions, the male employment rate falls and never returns…
November 21, 2024
A Local Option for Natural Gas Fracking
The 2024 election was a referendum on a wide range of issues, but there’s no doubt that increasing domestic fossil-fuel production—“energy dominance,” as Donald Trump now calls it—was on the ballot and won. Kamala Harris backed away from her past calls to ban fracking but nonetheless lost Pennsylvania, where voters seemed to doubt her sudden…
November 17, 2024
Affordable Housing—and No Tax Hike
On Nov. 5, Denver’s voters rejected Affordable Denver, a half-cent sales tax increase for subsidized housing. The tax hike would have burdened working families while failing to address the root causes of unaffordable housing. But the vote’s outcome opens the door for a better solution — not only in Denver but also in other Colorado…
November 15, 2024
JD Vance is Right: Reduce the Power of Big Foundations to Help Charity
In his 2021 campaign for Senate, JD Vance, now vice-president-elect, minced no words in expressing his disdain for two of America’s largest private, philanthropic institutions: the Ford Foundation and the Gates Foundations. Both are, he said, “fundamentally cancers on American society but they pretend to be charities, so they benefit from preferential tax treatment.” Their endowments, he continued,…